CHOPPIES ENTERPRISES LIMITED

1 CHOPPIES ENTERPRISES LIMITEDCONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEP articulars 875,476 - - - - - 875,476 - - - 30,720 30,720 - 906,196 - - - - - - 906,196 87 - - - - - 87 - - - - - - 87 - - - - - - 87 (35,400) 14,625 - 14,625 - - (20,775)(8,904) - (8,904) - - - (29,679)4,498 - 4,498 - - - (25,181) 8,852,397 (6,979,223) 1,873,174 39,749 1,912,923 (1,773,975) (1,430,322) (56,416) (287,237)138,948 (53,889)10,930 95,989 (21,349)74,640 83,923 (9,283) 3,186 5,721 (2,535) 77,826 89,644 (11,818) StatedCapitalP 000 PreferenceSharesP 000 RetainedEarningsP 000 Foreign CurrencyTranslation ReserveP 000 Non ControllingInterestP 000 TotalP 000 CONSOLIDATED STATEMENT OF CHANGES IN EQUITYCONSOLIDATED STATEMENT OF FINANCIAL POSITION SEGMENTAL RESULTS Particulars 2,126,611 9,221 2,135,832 395,312 4,567 43,632 58,798 3,004 1,428,491 861,612 1,493,708 4,532 1,498,240 269,702 (23,323)34,258 13,525 (16,536)1,035,555 608,072 2,864,087 10,077 2,874,164 582,455 (56,528)72,008 33,386 (43,955)

2 1,067,879 596,626 869,084 603 869,687 143,264 16,490 13,929 33,399 12,403 553,202 264,820 697,595 1,252 698,847 128,211 14,140 12,897 29,899 10,442 556,798 263,579 1,366,116 1,592 1,367,708 241,635 11,124 20,668 39,228 6,038 508,902 233,234 BotswanaP 000 South AfricaP 000 ZimbabweP 000 Other regionsP 000 TotalP 000 - - - - - - - - - - (30,720) - (30,720) (30,720) - - - - - - (30,720)Treasury SharesP 000 5,761,505 (4,639,137) 1,122,368 29,324 1,151,692 (1,027,717) (832,730) (24,095) (170,892)123,975 (32,658) 1,519 92,836 (25,179)67,657 71,522 (3,865) 4,853 4,498 355 72,510 76,020 (3,510) (Unaudited)6 months ended31 December, 2017P ' 000(Unaudited)31 December 2017P ' 000(Unaudited)31 December 2016P ' 000(Audited)30 June, 2017P ' 000(Unaudited)6 months ended31 December, 2016P ' 000(Audited)12 months ended30 June 2017P ' 000 REGISTERED OFFICEUnit 5, Plot 115, Kgale Box 406, Gaborone, SECRETARIESG rant Thornton Business Services (Pty) Ltd.

3 Acumen Park, Plot 50370, Fairgrounds Office Box 1157, Gaborone, 50371, Fairground Office Park, Gaborone BotswanaABRIDGED UNAUDITED GROUP FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2017 4,713,772 (3,798,231) 915,541 21,728 937,269 (847,705) (678,769) (29,952) (138,984)89,564 (18,498)2,221 73,287 (17,732)55,555 58,383 (2,828) 13,529 14,625 (1,096) 69,084 73,008 (3,924) 634,823 58,383 58,383 - (36,530) (36,530)656,676 25,540 25,540 - - - - 682,216 71,522 71,522 - (27,975) - (27,975)725,763 (1,393)(3,924) (2,828) (1,096) - - (5,317)(7,894)(6,455) (1,439) - - - (13,211)(3,510)(3,865) 355 4,304 4,304 - (12,417) 1,473,593 69,084 55,555 13,529 (36,530) (36,530)1,506,147 8,742 19,085 (10,343) - 30,720 (30,720) 1,514,889 72,510 67,657 4,853 (23,671) 4,304 (27,975)1,563,728 466,548 1,687 468,235 66,739 (42,129) 13,170 (26,041)(35,419)473,137 200,752 236,136 620 236,756 37,649 (27,580)7,785 (19,843)(19,633)265,709 116,051 578,167 1,634 579,801 82,037 (70,609)18,239 (51,522)(52,000)

4 365,955 156,735 AssetsNon-current assets Plant and equipment Deferred taxation Investments in new projects GoodwillCurrent assets Inventories Investments Advances and deposits Taxation refundable Trade and other receivables Amounts due from related entities Cash and cash equivalentsTotal assetsEquity and LiabilitiesEquity Stated capital Preference shares Retained earnings Treasury shares Non controlling interests Foreign currency translation reserveNon - current liabilities Long term borrowings Deferred taxation Deferred lease liabilitiesCurrent liabilites Current portion of deferred lease

5 Liabilities Bank overdraft Trade and other payables Amounts due to related entities Taxation payable Current portion of long term borrowingsTotal equity and liabilitiesRevenueCost of salesGross profitOther incomeOperating incomeExpenditureAdministrative expensesSelling and distribution expensesOther operating expensesOperating profit before interestInterest costInterest incomeProfit before taxationTaxationProfit for the periodAttributable to:Owners of the companyNon-controlling interestsOther comprehensive incomeForeign currency translation differences from foreign operationsAttributable to:Owners of the companyNon-controlling interestsProfit and total comprehensive incomeAttributable to.

6 Owners of the companyNon-controlling interestBasic earnings per share - ThebeHeadline earnings per share - ThebeBalance at 30 June 2016 (Audited)Total comprehensive income for the period (6 months)ProfitOther comprehensive incomeTransactions with OwnersDividend declaredBalance as at 31 December 2016 (Unaudited)Total comprehensive income for the period (6 months)ProfitOther comprehensive incomeTransactions with OwnersIssue of ordinary sharesPurchase of treasury sharesBalance as at 30 June 2017 (Audited)Total comprehensive income for the period (6 months)ProfitOther comprehensive incomeTransactions with OwnersEquity contribution in subsidiary Dividend declaredBalance as at 31 December 2017 (Unaudited)Six months ended 31 December, 2017 (Unaudited)Statement of profit or loss and other comprehensive Income Revenue.

7 Trading income Other incomeTotal segmental revenue Reportable segment gross profit Reportable segment profit/(loss) before taxation Reportable segment DepreciationReportable segment EBIDTAR eportable segment profit/(loss) after taxationStatement of financial position Reportable segment assets Reportable segment liabilitiesSix months ended 31 December, 2016 (Unaudited)Statement of profit or loss and other comprehensive Income Revenue : Trading income Other incomeTotal segmental revenue Reportable segment gross profit Reportable segment profit/(loss) before taxation Reportable segment DepreciationReportable segment EBIDTAR eportable segment profit/(loss) after taxationStatement of financial position Reportable segment assets Reportable segment liabilitiesYear ended 30 June 2017 (Audited)Statement of profit or loss and other comprehensive Income Revenue.

8 Trading income Other incomeTotal segmental revenue Reportable segment gross profit Reportable segment profit/(loss) before taxation Reportable segment DepreciationReportable segment EBIDTAR eportable segment profit/(loss) after taxationStatement of financial position Reportable segment assets Reportable segment liabilitiesCOMMENTARY1. Basis of preparation and accounting policiesThe abridged unaudited financial information for the six months ended 31 December 2017 is prepared in accordance with International Financial Reporting Standards ( IFRS ) (which includes IAS 34 Interim Financial Reporting), to the extent applicable to Interim Financial Reporting, and in the manner required by the Companies Act, 2003 ( of 2004)

9 Of accounting policies have been applied consistently to all periods in the financial information financial information is presented in Botswana Pula, which is considered the functional Performance highlights compared to half year ended 31 December 2016 Revenue up by 22% to P billion Gross profit up by 23% to P billion 33 new stores were added during the period; total number of stores now 235 Total retail space up by 17% to 340 973 Sq. m Commenced operations in Mozambique and Ottapathu(Chief Executive Officer).. Mogae (Chairman)Gross profit23%Revenue22%PAT22%EPS21%ASSET VALUE18%Retail space17%HEPS19%Store count33 Net cash flows generated from operating activitiesNet cash flows used in investment activitiesNet cash flows (used in)/generated from financing activitiesNet movement in cash and cash equivalentsCash and cash equivalents at begining of the periodCash and cash equivalents at end of the period 243,358 (168,471) 42,727 117,614 52,086 169,700 332,044 (234,118) (17,362) 80,564 76,769 157,333(Unaudited)6 months ended31 December, 2017P ' 000(Unaudited)6 months ended31 December, 2016P ' 000(Audited)

10 12 months ended30 June 2017P ' 000 211,657 (286,366) 99,392 24,683 52,08676,769 ParticularsCONSOLIDATED STATEMENT OF CASH FLOWS For and on behalf of the Board3. Financial overview & review of operationsBotswanaBotswana contributed 40% to Group revenue. Despite the subdued economic environment in the country, we maintained our market share and continued to improve our efficiencies. Segmental revenue increased by 6% and EBITDA by 11% compared to the half year ended 31 Dec 16 (herein after referred to as corresponding period).EBITDA33%South AfricaSignificant improvement in the North West stores resulted in like for like revenue growth of 43%.